News Formal

ASX to rise; United Malt lowers FY22 earnings guidance

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 90%

United States News News

United States United States Latest News,United States United States Headlines

Australian shares to open higher; S&P 500 caps best month since 2020; RBA tipped to lift rates by 0.5 per cent on Tuesday. Follow the latest here.

United Malt Group expects underlying EBITDA for FY22 to be in the range of around $100 million to $108 million.

The company said its processing segment in North America has suffered from the deterioration of the North American barley crop, supply chain disruptions, increased costs of imported barley which could not be fully passed on to customers and general cost inflation. United Malt’s earnings for FY22 are now expected to be below previous guidance as the anticipated improvement in the second half performance of the North American processing segment has been delayed.

Group corporate costs for FY22 are expected to be around $8 million which is less than the guidance provided in its interim results. United Malt anticipates a material increase in earnings in FY23 with underlying EBITDA expected to be in the range of $140 to $160 million.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Higher debt costs eat into REIT earnings: BarrenjoeyThe average cost of debt for major property stocks could rise to between 4 and 5 per cent from about 3 per cent, putting a brake on growth in earnings and distributions.
Source: FinancialReview - 🏆 2. / 90 Read more »